New Car Prices 2022: Buying A Car Reaches Record High, Leasing Market Grows

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The cheapest new car you can buy in the UK is currently the Kia Picanto, which has a starting price of £11,810. Even the most basic spec of Kia’s dinky city car is nearly £3,000 more expensive than last year’s cheapest new motor.

Last year, drivers could pick up a brand-new Dacia Sandero, a much more spacious car than the Picanto, for just £8,995. But even this award-winning family car hasn’t managed to escape the rising motoring costs, with the latest Sandero starting at £12,225 – that’s an increase of more than £3,000.

But is it all doom and gloom? Sure, the prices of buying a new car might have increased, but you can still lease a brand-new car for less than £200 per month. For example, the Kia Picanto in question is available to lease for around £180 per month*

Need a bigger car like the Dacia Sandero? Well, you can get one of these on a lease for cheaper still, with leasing offers available for the brand-new Sandero for around £164 per month*.

 
All-New Dacia Sandero
 

*Price accurate at the time of writing (24/05/22)

 

Why is leasing growing in popularity?

 

Buying a car versus leasing is a dilemma faced by most drivers when it comes to considering a new car.

With the cost of living increasing and this having a devastating impact on consumer confidence, drivers are now more than ever looking for more financially viable ways to make motoring affordable.

Over the years, car leasing has grown in popularity, with around five million vehicles on UK roads now on a lease, according to the BVRLA’s (British Vehicle Rental and Leasing Association’s) latest figures.

A lot of this is likely down to the guarantee that brand-new lease cars offer. These are brand-new cars that are covered by the manufacturer warranty and can be had for fixed monthly payments suited to your budget. What’s more is that you won’t need to worry about depreciation costs with a lease car, because at the end you won’t own it.

Instead, you’ll have the option to either send the car back at the end with nothing more to pay, or you can take out a new lease on a separate model. This saves you a lot of time and money when it comes to changing car, with most new cars losing a whopping 60% of their value after three years of driving an average of 10,000 miles per year.

 

Most popular cars to lease in 2022

 
Tesla Model 3
 

There are a bunch of great new cars that are popular with UK drivers to lease in 2022 that, when compared with their buying price, show how much of a bargain you can get on.

Here are some examples of vehicles our leasing customers regularly choose and the savings you can see from leasing instead of buying.

 
  • Nissan Qashqai – lease from around £221 per month** / starting purchase price £25,505
  • Kia Sportage – lease from around £235 per month** / starting purchase price £25,490
  • Vauxhall Corsa – lease from around £175 per month** / starting purhcase price £16,440
  • Volkswagen T-Cross – lease from around £205 per month** / starting purchase price £22,130
  • Nissan Juke – lease from around £201 per month** / starting purchase price £20,420
  • Tesla Model 3 – lease from around £497 per month** / starting purchase price £45,990
  • Nissan Leaf – lease from around £268 per month** / starting purchase price £26,995
  • Tesla Model Y – lease from around £530 per month** / starting purchase price £55,990
  • BMW 1 Series – lease from around £279 per month** / starting purchase price £27,245
  • Ford Fiesta – lease from around £216 per month** / starting purchase price £17,905
 

**Price accurate at the time of writing (24/05/22)

 

Want to consider your options before leasing a new car? No problem! Moneyshake compares car lease deals on the latest new models, all of which are supplied by the UK’s top leasing providers, so you can get the best deal every time.

 

Compare car lease deals

 

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